Public sector Andhra Bank today said it has raised Rs 500 crore by issuing Basel III-compliant bonds on a private placement basis.
"We wish to report the issuance of 9.2 percent unsecured fully paid-up non-convertible Basel III compliant additional tier I capital perpetual debt bonds in the nature of debentures for an amount of Rs 500 crore on private placement basis," it said in a regulatory filing.
The issue was opened for subscription from October 31 and was closed the same day.
"The bank has received a subscription of Rs 500 crore towards the subject bond issue," it added.
The stock of Andhra Bank closed 3.93 percent up at Rs 68.70 apiece on BSE today.
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